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You get a job offer with an incredible-sounding salary, but how far will that money go in the place you'd have to live? Before you move, whether for a job or another reason, knowing just how far your income will take you when factoring in the cost of living is helpful.
The Cost of Living Index is calculated based on the price of more than 60 goods and services. The U.S. average is 100, and each place's index is a percentage of the U.S. average. Those below 100 are cheaper than average, and those above 100 are more expensive.
The most expensive states are primarily on the coasts, particularly in the West and Northeast. The cost of living tends to be lower in the Midwest and South.
New Jersey Real Estate Network measured the cost of living in each state during the second quarter of 2022, using data from the Council for Community & Economic Research. The survey measures the cost of living in cities across the U.S. Researchers calculated each state's cost of living using the average of the indices of metro areas and cities in that state.